It's lies and deception. Here is the only truth. True deficit spending is the size of the debt from one year to the next. The budgets they publish for mass consumption do not include many expenditures made through emergency and supplemental appropriations. If you add all expenditures back into the budget, then the deficits are a lot larger. This is all a game they are playing to fool people. When I was a CPA and auditor in a Big 8 accounting firm many years ago, I saw companies try to play these games. They'd manipulate the Income Statement, but you could catch them in the Balance Sheet. At the end of the day, here in the US, excess spending over tax revenues will always show up as increased US debt from one year to the next. So that's the true, unmanipulated measure of the US deficit. Here it is:
Total US Debt during Obama's years in office (in Trillions):
12/31/2008 = $10.700
12/31/2009 = $12.311, increased $1.611
12/31/2010 = $14.025, increased $1.714
12/31/2011 = $15.223, increased $1.198
12/31/2012 = $16.433, increased $1.210
04/19/2013 = $16.782, increased $0.349...annualized = $1.169
Our deficit may shrink this year, but forget about anything as small as your $648B. That's a lie and a joke for consumption by the financially illiterate, which unfortunately includes most Americans. |
